What Happens After You Sign a Sundae Marketplace Agreement? Explained in 5 Simple Steps
Here’s what to expect after you sign a Marketplace Agreement with Sundae.
You’ve met with a Market Expert and signed a Marketplace Agreement, authorizing Sundae to list your property for sale and market it on our online Marketplace to thousands of investors. Congrats! Now, it’s time for you to get the best price for your house.
So what happens after you sign the Marketplace Agreement? What does the marketing process actually look like?
Along the way, you need to know what to expect. If you have questions about what happens after you agree to let us market your home to our investors, look no further. At Sundae, you can expect a worry-free process from start to finish. This step-by-step guide walks you through what happens in the days that follow the signing of your Marketplace Agreement.
Step 1: We prepare your Property Profile
After signing the Marketplace Agreement, we collect a 3D map and virtual tour, a video walkthrough, and a floor plan of your house. In addition, we require a home inspection. Typically, there will be a home inspection within three days of signing the agreement.
Home inspections are a common practice in the real estate industry, generally viewed as a formality. More often than not, a home inspection will reveal nothing beyond what the seller has already disclosed. However, there are certain instances in which a home inspection reveals a problem with the property that affects the sale of the home. Having information readily available and offering transparency to potential buyers limits hiccups that could otherwise arise down the road, allowing you to sell faster in many instances.
Timeframe: as quickly as three days after signing the agreement
Step 2: Disclosures
A disclosure is a document that provides information about a property’s condition. This occurs along the same timeline as the first step in the process.
Sundae typically asks for a few disclosures, depending on the property and the state where the property is located. We send the necessary disclosure documents to you to complete and sign electronically. To keep the process moving along, we require that you complete them within three days of receiving them.
Timeframe: within three days of signing the agreement
Step 3: Go live on Sundae’s Marketplace
Once we receive your disclosures and the home inspection is complete, your Property Profile will go live on Sundae’s Marketplace. Then it will instantly be marketed to thousands of local qualified investors. Sundae’s Marketplace creates competition among investors bidding on your home, thereby ensuring that you receive the highest offer an investor is willing to pay.
Timeframe: as quickly as three days from signing the agreement
Step 4: Review multiple cash offers and accept
Sundae will bring you your top three highest offers to review four business days after your property is live on the marketplace. There is no obligation to accept the offers. However, if there’s an offer that works for you, sign the docs to accept. Once you accept the offer, we open escrow, and the closing process begins.
Timeframe: four business days after your property goes live
Step 5: Start the closing process
At this point, you can rest assured that you’ll soon be able to start the next chapter of your life. People sell houses for a number of reasons, but regardless of your situation, we want to help you close on time.
Perhaps you need money for a down payment, rent, or just for pocket back. Once you’ve accepted an offer, you may be able to cash-in quickly. Depending on the circumstances, you may be eligible for a cash advance of up to $10,000. Your Market Expert will work with you on this.
Close on your time
We offer everything from 10 to 60 day closing windows. It’s up to you and your timeline. Our intention is to ensure that your close and transition are as seamless and convenient as possible. For more information, read our guide for what happens in the Closing Process.
Timeframe: anywhere between 10 and 60 days: it’s up to you
We’re here every step of the way
We pride ourselves on transparency and guidance throughout the home sale process. As you go from one step to the next, we’ve got you covered.